that this token has what I would call having Brass color bleeding.

The token most likely has been open to the air enough for the brass color to oxidize itself onto the silver portion of the token.

To prove this if you have a silver jewelery cleaning cloth just lightly use it on the center portion of the token, GOLD PLATING cannot be removed in this manner. If it's from the brass it will come off with very little effort.

I've seen this happen to many a silver strike. I've had a few silver strikes with cracked cases that have a gold line across the silver where the case was cracked. As we all know many people refer to silver strikes as having an outer ring that is Gold Plated which they aren't.

However, if it IS gold plating is is most likely a DIPPED token privately done.

To find out about it being 1 piece if it's center isn't perfect and somewhat loose you can take it by the edges and shake it to see if it rattles. Other that that if you know someone who can x-ray it that's another way to find out.

I've also had a past MAJOR silver strike dealer tell me that he had run across and sold a couple of fully gold plated silver strikes and these too were from the MGM. This same dealer was one who claimed to have a very LARGE number of $40 Treasure Island tokens locked away in his safe. He never produced any for anyone to see. Needless to say this guy is now out of the silver strike business and from what I've heard the coin business. This was the same dealer who made a claim on his website that there were 15,000 collectors of Silver Strikes worldwide and that in year 2000 it costed about $55,000 to obtain a complete collection of silver strikes